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S$3.2 billion residential, commercial project - Park Place Residence &

S$3.2 billion residential, commercial project - Park Place Residence &.

As part of plans to transform Paya Lebar into a regional hub, a S$3.2 billion project comprising residential, retail and commercial spaces will be built, developer Lendlease announced on Monday (Oct 17). Called Paya Lebar Quarter, the 3.9-hectare development will be located on top of Paya Lebar MRT station, and includes a 340,000-sqft mall with FairPrice Finest and Kopitiam as anchor tenants.

Three Grade A office towers will offer about 1 million sqft of office space. In addition to a cycling path, end-of-trip facilities such as showers, lockers and bicycle storage for tenants will also be incorporated, in line with Singapore's vision to be a car-lite city, Lendlease said.

The residential component, scheduled to be launched early next year, comprises three towers with 429 homes that range from one- to three-bedroom units.

Paya Lebar Quarter will be completed in phases, with the retail and commercial components expected to be completed in the second half of 2018, and the residential component in the first half of 2019.